Northeast Corridor contributes $50B yearly to economy, report says

Posted on April 9, 2014

Courtesy Loco Steve via Flickr
Courtesy Loco Steve via Flickr

A new report details how the Northeast Corridor (NEC), carrying 750,000 daily Amtrak and commuter passengers, is a critical national asset, an economic engine for the U.S. and contributes about $50 billion a year to the national economy.

The report, “The Northeast Corridor and the American Economy,” produced by the NEC Infrastructure and Operations Advisory Commission (NEC Commission), also calculates that a loss of the NEC for a single day would cost nearly $100 million in transportation-related impacts and productivity losses.

The NEC mainline from Washington, D.C. to New York to Boston is a shared asset, used and supported by Amtrak, eight commuter rail operators and four freight railroads, and connects eight states and the District of Columbia. In addition, it connects people and businesses to world-class centers of employment, finance, education, health care, government, tourism and entertainment, and a variety of other economic and cultural destinations.

The report adds that the NEC carries more passengers within the NEC region than all the airlines combined and connects to the national freight rail network allowing Midwestern businesses and manufacturers to connect to East Coast ports and the global economy.

“Our leaders in Washington need to read this report to understand the economic risk they are taking if they don’t act now to reverse decades of underinvestment in the aging and deteriorating infrastructure of the NEC,” said Amtrak President and CEO Joe Boardman.

A previous report produced by the NEC Commission, “Critical Infrastructure Needs on the Northeast Corridor,” recognizes that additional investment is necessary to renew and enhance the NEC as a world-class, high-performance rail corridor supporting the economic development and international competitiveness of the region and the nation.”

As a member of the NEC Commission, Amtrak has worked closely with, and appreciates the efforts of, the NEC Commission and other participating agencies, including Northeast states, and commuter and freight railroads in the creation of the report.

View comments or post a comment on this story. (0 Comments)

More News

Amtrak bans Samsung Galaxy Note 7

Faulty batteries on the phones that can overheat are blamed for fires around the world, prompting Samsung to issue recalls and stop production on the Note 7. The FAA has already banned the phones from all airlines.

DART adds 3 miles to Blue Line light rail system

Connecting an area known as the Education Corridor to downtown by light rail enables more people to discover the academic programs offered at the UNT Dallas, Paul Quinn College and Cedar Valley College.

LA Metro unveils new tunnel boring machine named Angeli

At the event Board Chair Fasana awarded TAP Cards to students who won contests to name the TBM and create an illustration for its tail shield.

Bombardier confirms progress on turnaround plan

The actions support the company’s efforts to build its earnings growth potential and highlight its focus on improving productivity, reducing costs, and optimizing its worldwide footprint to deliver increased value to customers and shareholders.

BYD enters mass transit market with low-cost train

The light rail technology is applicable to small and medium-sized cities, heavy traffic routes, CBD’s and routes connecting tourist attractions in large cities, according to the company.

See More News

Post a Comment

Post Comment

Comments (0)

More From The World's Largest Fleet Publisher

Automotive Fleet

The Car and truck fleet and leasing management magazine

Business Fleet

managing 10-50 company vehicles

Fleet Financials

Executive vehicle management

Government Fleet

managing public sector vehicles & equipment



Work Truck Magazine

The number 1 resource for vocational truck fleets

Schoolbus Fleet

Serving school transportation professionals in the U.S. and Canada

LCT Magazine

Global Resource For Limousine and Bus Transportation

Please sign in or register to .    Close